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1817 Majestic Oak Drive Pearland, TX 77581

4 Beds 4 Baths 2,860 sqft Built 2008

$299,999

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $104.89
  • 6 Days on Market
  • MLS # : 8841113
  • Updated Date : 12/05/2020 at 11:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,860 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Pearland

Listing Agent's Description

Beautiful two story home in Oakbrook Estates! A beautiful glass front door opens up to an elegant foyer with high ceilings. Opening to the formal dining room on the right side and direct aces to the kitchen with granite countertops and lots of cabinet space. The open concept floor plan connects to the family room, the kitchen and breakfast area. The family room has an open view to the back yard that has a covered back patio with fan outside; perfect for family gatherings. The Master Suite is located on the first floor and has a luxurious bath with a garden tub and a separate shower, dual vanities and large walk-in closet. The back yard is in prime condition with a separate gardening area. Conveniently located near Hwy. 288 and Beltway 8. Close to the Medical Center and Downtown, near schools, parks, shopping and dinning areas. Call for your showing appointment TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Oakbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Oakbrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Alexander Middle School Primary Regular 691 37 9
Alexander Middle School Middle Regular 691 37 9
Pearland High School High Regular 2,920 177 7

Alexander Middle School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Alexander Middle School

  • Education Level: Middle
  • # of students: 691
  • # of teachers: 37
9
GreatSchools Rating

Pearland High School

  • Education Level: High
  • # of students: 2,920
  • # of teachers: 177
7
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,107
Property Tax -$730
Property Insurance -$220
HOA -$25
Property Management Fees -$99
CASH FLOW
$128

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$299,999

PROJECTED PRICE

$2,310

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,005

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,310

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,302

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,015
1$2,0152$2,2503$2,3104$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 1817 Majestic Oak Drive Pearland, TX 3
    • 4 beds 4 baths ∙ 2,860 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,860 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.81
    •  
  • 3918 Bracket Drive Pearland, TX 1
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 1998
    property image
    LEASED 06/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.75
    •  
  • 1501 Inverness Lane Pearland, TX 2
    • 3 beds 3 baths ∙ 2,774 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,774 Sqft ∙ Built 1995
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 3903 Somerville Lake Court Pearland, TX 4
    • 4 beds 4 baths ∙ 2,843 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,843 Sqft ∙ Built 2002
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.83
    •  
  • 1808 Oakleaf Circle Pearland, TX 5
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 1993
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Laura Montalvo
1.832.441.1404
Re/max Pearland
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 8841113
Last Updated: 12/05/2020
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